RMI 300 Risk Management and Insurance

General

• Reducing, and transferring the risks that can shut down a business.
• An understanding of the alternative means of handling risk, including risk avoidance, loss control, risk retention, risk transfers involving insurance, and non-insurance risk transfer.
• An understanding of the derivative products to hedge financial risks including standard and exotic options, structured finance products tailored to individual deals, credit risk derivatives, insurance-linked and asset-backed securities.
• The development of basic skills in risk identification and analysis, including an understanding of the importance of loss frequency and severity.
• An understanding of how firms create risk management policies and implement those polices through risk officers and other financial controllers.
• An understanding of the major design decisions and legal requirements employers must address in establishing qualified employee benefit programs for health insurance, retirement, disability, and other areas.
• An ability to make risk management decisions under conditions of uncertainty and ambiguity, integrating production, marketing, and financial aspects of the problem with underlying ethical considerations.
• An understanding of how to obtain and manage cost-effective employee benefit programs and employee insurance programs and policies.
• Comparing and contrasting various types of insurance policies.
• Identification of internal and external risks leading to loss exposure.